Metaverse projects are going to get REKT during the bear market of 2022. Only the strongest ones will survive, like the crypto crash of 2018. In today’s video, the guys from @MetaMoney chat with Ben about the sustainability of the projects that are making headway and the ones that are already positioned for success.
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Timestamps:
0:00 Intro
0:09 How will the bear market affect Metaverse projects?
2:19 Is there a lot more institutional money in the Ecosystem now?
4:11 Is any Metaverse ready for full adoption?
6:31 Excited for the bear market?
9:31 Outro
Preparing For the Metaverse
The term metaverse refers to the virtual world that you can enter with your avatar. The technology enables you to interact with other people, as well as with objects and items in the metaverse. Some metaverses, like the Sandbox, are centralized, and others are decentralized. In order for a metaverse to be decentralized, it must be a “decentralized” network. This is where blockchain technology comes into play. Blockchain technology can create networks without central control. In the case of The Sandbox, crypto technology is used to store ownership rights.
Several major tech firms, including Microsoft, NVIDIA, and Epic Games, have announced plans to invest in the metaverse. Many popular brands have entered the fray as well. Gucci, for example, has partnered with online gaming platform Roblox, which lets you make and play games. To increase awareness of Gucci accessories, the brand sold NFTs as digital accessories. Coca-Cola is also getting into the metaverse with digital tokens.
Small businesses should prepare for the Metaverse by updating their logo and images. Creating a new image of their business is an important step to ensure that people recognize it when they search for it. While the traditional methods of business remain the most important, the metaverse will definitely impact core business sectors. It is possible that the metaverse will change the way the media is consumed, so it is imperative to adapt to the new reality. Using the latest technologies and innovations is vital to ensuring that you remain competitive in the world of virtual commerce.
